Research On The Path Of Overseas Listed Companies Returning To The Domestic Capital Market

In the late 1990 s,the development of China’s capital market was relatively backward,and the current development status did not meet the financing needs of enterprises and the threshold for foreign investment in China’s regulatory authorities for certain industries.Affected by this,many emerging companies have begun to choose to go public overseas.However,in recent years,the development of China’s capital market has made great progress.Many overseas listed companies have completed privatization and delisting overseas,and then choose to list in China.This phenomenon has attracted the attention of relevant scholars.However,the choice of path return in the process of returning to the domestic capital market is not only affected by the relevant policies and the development of the enterprise,but also has a greater relationship with the market timing.The research shows that the economic consequences of using different path regressions will be very different,so the choice of returning to the domestic capital market path is very important,and through the return to success.The analysis of the return path of overseas listed companies is of great significance.The case company selected in this article is the “perfect world”.“Perfect World” is an overseas listed company that has successfully returned to the domestic capital market.In the process of returning to the domestic capital market,the company has innovatively embarked on a unique return path,which is different from the previous privatization delisting and relisting path.The company adopts the return path of the merger and acquisition of A-share listed companies after the partial demolition of some assets and the domestic renminbi listing.After adopting this kind of path to return to the domestic capital market,the company gained a double boost in market value and profitability.The research of this artle includes the following five parts: Firstly,it analyzes the conventional path and related influencing factors of overseas listed companies returning to domestic capital market;secondly,analyzes the reasons why perfect world returns to domestic capital market and the specific path taken by perfect world returning countries,and focuses on It analyzes the various influencing factors of the perfect world out of its unique path;then uses relevant methods to analyze the market reaction before and after the perfect world regression and the corresponding financial effects;finally,combined with the analysis of the whole article,from overseas listed companies and stakeholders From the perspective of the regulatory authorities,relevant suggestions on the return of overseas listed companies to the domestic capital market were put forward.Through the research of this paper,it is found that the perfect return of the perfect world is its own unique return path,which is the result of various factors such as market timing,business financial status,domestic related policies and strategic choices.After the successful return of the perfect world,its short-term market announcement effect is extremely obvious.In the short term,it has achieved good value and performance effects,and shareholders have also received positive returns.In the long run,the company’s share price has shown a longterm volatility,and the company has greatly improved its profitability.In general,after the perfect world returns to China’s capital market,the company’s corporate value and profitability have been fixed.Upgrade.The company’s unique and successful return path has a strong reference value for companies that are struggling on the road to return.